CW Advisors LLC Takes Position in Seagate Technology Holdings PLC $STX

Key Points

• CW Advisors LLC has taken a new position in Seagate Technology Holdings PLC, acquiring 4,854 shares valued at approximately $413,000 during the first quarter.
• Institutional investors now own 92.87% of Seagate's stock, with several funds, including Wellington Management Group LLP, significantly increasing their positions recently.
• Seagate Technology recently reported earnings of $2.59 per share, surpassing estimates, and declared a quarterly dividend of $0.72, reflecting a strong commitment to shareholder returns.

CW Advisors LLC purchased a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,854 shares of the data storage provider's stock, valued at approximately $413,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Credit Agricole S A raised its position in Seagate Technology by 7.9% during the first quarter. Credit Agricole S A now owns 67,338 shares of the data storage provider's stock worth $5,720,000 after acquiring an additional 4,925 shares during the last quarter. MIG Capital LLC purchased a new position in shares of Seagate Technology during the 1st quarter worth approximately $356,000. Wellington Management Group LLP raised its position in shares of Seagate Technology by 3,339.4% during the 1st quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider's stock worth $79,343,000 after purchasing an additional 906,840 shares during the last quarter. Korea Investment CORP lifted its stake in Seagate Technology by 16.5% in the 1st quarter. Korea Investment CORP now owns 147,454 shares of the data storage provider's stock valued at $12,526,000 after buying an additional 20,904 shares in the last quarter. Finally, Brooklyn Investment Group grew its holdings in Seagate Technology by 41.5% during the 1st quarter. Brooklyn Investment Group now owns 702 shares of the data storage provider's stock valued at $60,000 after buying an additional 206 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on STX shares. Benchmark boosted their price target on Seagate Technology from $128.00 to $165.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. BNP Paribas raised shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a research note on Friday, May 16th. Robert W. Baird raised their price target on shares of Seagate Technology from $120.00 to $188.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. UBS Group lifted their price target on shares of Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Wedbush reissued an "outperform" rating and set a $140.00 price objective on shares of Seagate Technology in a research note on Wednesday, May 21st. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $151.44.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, Director Michael R. Cannon sold 24,190 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $119.00, for a total transaction of $2,878,610.00. Following the completion of the sale, the director directly owned 10,835 shares in the company, valued at $1,289,365. The trade was a 69.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William D. Mosley sold 54,347 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $130.19, for a total transaction of $7,075,435.93. Following the completion of the sale, the chief executive officer directly owned 515,677 shares of the company's stock, valued at $67,135,988.63. The trade was a 9.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 314,195 shares of company stock valued at $40,243,793. 0.81% of the stock is currently owned by corporate insiders.

Seagate Technology Stock Up 1.2%

STX stock opened at $167.24 on Thursday. The company has a market cap of $35.57 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 1.02 and a beta of 1.50. The business has a fifty day simple moving average of $149.74 and a 200-day simple moving average of $114.78. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $168.20.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.45 by $0.14. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The firm's quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be issued a $0.72 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 annualized dividend and a yield of 1.7%. Seagate Technology's dividend payout ratio (DPR) is presently 42.54%.

Seagate Technology declared that its Board of Directors has approved a share buyback program on Thursday, May 22nd that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the data storage provider to buy up to 21.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Seagate Technology Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.

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